QUESTION A company that makes baked goods created a new peppermint-chip cookie. Before the firm launched the product nationally, with its other products, it first sold the cookies at five select supermarkets in each of five major cities. What was the company doing? What will be an ideal response? ANSWER Answer: The company was […]
QUESTION Peter is standing on a busy street corner in a major city. He is stopping female pedestrians to ask whether they would be interested in a cell phone that had a cut-out space for earrings, so they didn’t have to press the phone against the earrings when listening, thus making the ear feel uncomfortable. […]
QUESTION What is a new product? What will be an ideal response? ANSWER Answer: A new product is defined as a product that either (1) is a significant improvement over existing products or (2) performs a new function for the consumer. New products may be new to a company but not necessarily to the […]
QUESTION Primary data that companies collect from databases for the purpose of getting accurate customer information to use when making marketing decisions can also be used how? What will be an ideal response? ANSWER Answer: Primary data collected from databases can be used for one-to-one marketing (reducing marketing segmentation to individual customers). Explanation: One-to-one […]
QUESTION What are the advantages and disadvantages of using primary data sources and secondary data sources when conducting market research? What will be an ideal response? ANSWER Answer: Secondary data is cheaper and easier to obtain, but it is open to competitors, may not fit a company’s needs, and may be out of date. […]
QUESTION Which of the following, if true, strengthens the argument for keeping the traditional product line? A) The aging product line is disproportionately taking up management’s time. B) Other companies are keeping their competing product lines intact using promotion tactics and aggressive price cutting. C) A miniscule band of loyal customers still prefers the company’s […]
QUESTION Which of the following is NOT one of the four steps in marketing research? A) define the problem B) collect facts C) analyze the data D) obtain feedback E) take action ANSWER Answer: D Explanation: D) The four steps in marketing research are: (1) define the problem; (2) collect facts; (3) analyze the […]
QUESTION When a consumer takes practical action by protesting a product by e-mail, by blogging about a product, or by providing feedback about a product on an independent website, the consumer is at what stage of the process of consumer buying behavior? A) problem recognition B) information search C) evaluating alternatives D) purchase decision E) […]
QUESTION Which of the following steps in marketing research is correctly paired with its description? A) Define the problem: Use published data or interviews, observation, experimentation, and focus groups to get information. B) Analyze the data: Implement the best solution. C) Collect facts: Use statistical tools to determine the facts. D) Take action: Clarify the […]
QUESTION What happened during the selling era? What will be an ideal response? ANSWER Answer: Mass-production techniques led to the production of more and more goods. Suddenly it was a buyer’s market, in which there were more products available than there were buyers. This, in turn, led to the selling concept, which emphasized high-powered […]
